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BOSTON—Pamela D. A. Reeve, a director at American Tower Corp (NYSE:AMT), a $95.8 billion specialized REIT and prominent player in the telecommunications infrastructure sector, recently sold 4,971 shares of the company’s common stock. The shares were sold at an average price of $202.97 each, resulting in a total transaction value of approximately $1,008,963. This sale reduced her direct ownership of company shares to 19,634.
The transaction was filed in a Form 4 with the Securities and Exchange Commission, detailing the sale that took place on February 26, 2025. The sale follows an earlier exercise of stock options on the same day, where Reeve acquired 4,971 shares at an exercise price of $94.57 per share. According to InvestingPro data, the stock currently trades near analyst targets ranging from $210 to $250, with technical indicators suggesting overbought conditions.
These stock options were granted under the 2007 Equity Incentive Plan, as amended. Following these transactions, Reeve’s direct ownership stands at 19,634 shares.
In other recent news, American Tower Corporation reported strong financial results for the fourth quarter of 2024, with earnings per share (EPS) of $2.32, surpassing the forecasted $1.77. The company’s revenue also exceeded expectations, reaching $2.55 billion against an anticipated $2.52 billion. Following the earnings announcement, analysts have adjusted their outlooks, with BMO Capital Markets increasing the price target to $220 and maintaining an Outperform rating. JMP Securities also raised its price target for American Tower to $248, citing strong results driven by international demand and consistent U.S. leasing growth.
American Tower’s data center revenue, particularly from its acquisition of CoreSite, exceeded projections, highlighting effective integration and strategic expansion. Despite challenges such as currency fluctuations and network decommissioning, analysts from JMP Securities remain optimistic about the company’s prospects, anticipating mid-single-digit growth in both revenue and adjusted funds from operations (AFFO). The company plans significant capital deployments, focusing on 5G network deployments and data center business expansion, projecting over 4% growth in attributable AFFO per share for 2025.
Additionally, American Tower’s strategic positioning within the telecommunications infrastructure sector is expected to support continued growth and shareholder value. The company’s robust fundamentals and ability to navigate market headwinds underpin analysts’ confidence in its growth trajectory. These developments reflect a positive outlook for American Tower as it continues to play a critical role in supporting global wireless communication networks.
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